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Special Funds Committee

Purpose: The Special Funds Committee manages and administers QUUF's Endowment and Development Funds, and promotes the various ways that people can contribute to them. As an advisory committee to the Board, the Special Funds Committee makes recommendations on policy and decisions regarding the acceptance of gifts, investing and expenditure of the funds.

Membership: The committee shall consist of a chairperson appointed in a manner consistent with Bylaws Articles VII, Section 1(a) and Article VIII, Section 1(b).

The committee shall elect from its membership a chairperson, financial secretary and recording secretary:

• The chairperson, or member designated by the chairperson, shall preside at all committee meetings.

• The recording secretary shall maintain complete and accurate minutes of all meetings of the committee and supply a copy thereof to each member of the committee.

• Each member shall keep a complete copy of the minutes to be delivered to his or her successor.

• The secretary shall also supply a copy of the minutes to the board.

• The financial secretary shall assist the treasurer in maintaining complete and accurate books of accounts for the funds and shall, along with the treasurer, sign checks and all other necessary documents on behalf of the congregation in furtherance of the purposes of funds. The books shall be audited annually by a certified public accountant or other appropriate person who is not a member of the committee.

The committee may request other members of the congregation to serve as advisory members and, at the expense of the Endowment or Development fund income, may provide for such professional counseling on investments or legal matters as it deems to be in the best interest of the funds.

Responsibilities and Procedures:

1. The committee shall meet at least quarterly, or more frequently as deemed by it in the best interest of the funds. A quorum shall consist of three members. A majority present and voting shall carry any motion or resolution.

2. The committee shall report on a quarterly basis to the board and, at each annual meeting of the congregation, shall render a full and complete audited account of the administration of the funds during the preceding year.

3. Recommendations to hold, sell, exchange, rent, lease, transfer, convert, invest, reinvest, and in all other respect to manage and control the assets of the fund, including stocks, bonds, debentures, mortgages, notes or other securities, as in their judgement and discretion they deem wise and prudent, are to be made by the committee for approval by the board, with subsequent execution by the delegated member(s) of the committee.

4. To promote the funds in the congregation by solicitation of members and distribution of fund literature.

Development Fund

1. All assets are to be held in the name of Quimper Unitarian Universalist Development Fund. The monies in the fund shall be reported as to whether or not they are restricted or dedicated to be spent on specific programs or projects designated by the donor or are restricted as to their use.

2. Distribution of income:
   1. The committee shall determine what is principal and income according to accepted accounting procedures.

   2. The principal amounts of restricted funds shall be distributed to those programs and projects designated by and in accordance with the wishes of the donor.

   3. Unrestricted principal and all income accumulated by the fund may be disbursed for any program or project approved by the Board which is intended to enhance and benefit the mission and purpose of QUUF.

Endowment Fund

1. All assets are to be held in the name of Quimper Unitarian Universalist Endowment Fund.

2. Distribution of income: The committee shall determine what is principal and income according to accepted accounting procedures. Gifts and bequests to the fund shall accumulate until a principal amount of ten thousand dollars ($10,000) is achieved, after which the income generated from the investments of the principal may be expended.

3. Income from the fund shall be distributed as deemed necessary and feasible to accomplish the following purposes:
   • For the physical plant of QUUF such as, but not limited to, maintenance of the buildings, capital improvements or renovations, or debt reduction;

   • For support of special needs of members;

   • For outreach into the community including, but not limited to, local social service agencies or institutions to which QUUF relates, and to special programs designed for those persons in our community who are in spiritual and/or economic need.